TMI Blog2016 (12) TMI 312X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer allowed the said set off, however, the same was reopened and in the reassessment order, after taking into consideration the objections, allowed set off of 1% only - Held that: - The Tax Board, in my view, has rightly considered the Notification dt 27.3.1995 and admittedly raw material purchased was used in the manufacture of iron and steel within the State of Rajasthan, and the rate in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jasthan Tax Board, Ajmer, in appeal No.129/2002/Jaipur. It relates to assessment year is 1994-95. 2. The brief facts noticed are that the respondent assessee is a manufacturer and purchased raw material during the assessment year 1994-95 after paying full tax @ 4% and as per the Notification, claimed set off @ 2.5% on such purchases made within the State of Rajasthan. Originally the Assessing O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dered by the Tax Board and both, the AO as well as DC(A) had applied the correct Notification. 5. Per contra, learned counsel for the respondent contended that the assessment was reopened on the basis of audit objection, which was not permissible and nothing was pointed out in the audit objection and even otherwise on merits the Circular dt 6.3.1991 which was relied upon by the Tax Board was op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch the rate of tax in respect thereof exceeds 1.5% on the following conditions, namely :- (1) That such iron and steel is used as raw material in the manufacture of iron and steel within the State of Rajasthan. (2) That such manufactured iron and steel is sold within the State or in the course of inter- State trade or commerce; and (3) That such manufacturer shall issue a declaration to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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